Public debt climbs 10% in May

Romania's total public debt rose in May by 10 percent versus end-2008, to 120.717 billion lei, accounting for 22.7 percent of the Gross Domestic Product (GDP) estimated this year, shows the data published today by the Ministry of Finance.

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The government estimates this year's GDP at 531.3 billion lei, and an economic contraction of 4 percent, NewsIn informs.

At the end of last year the public debt was of 109.75 billion lei and accounted for 21.78 percent of the GDP, according to the revised data.

At the end of May about two thirds of the debt was in lei, 25.74 percent was in euro and 11.05 percent in other currencies.

The weight of the public government debt in the total debt rose by 1.3 percentage points versus the end of 2008, from 91.58 percent to 92.88 percent, while the local public debt stood for 7.12 percent of the total debt.

The ratio of the negotiable debt advanced to 38.35 percent at the end of May, from 25.70 percent in December 2008.